Saturday, August 8, 2009

0 percent 10-year employment growth

Via:  NYT  According to data cited by Floyd Norris, the U.S. population has increased 10 percent or 28 million, from 279 million to 307 million, but employment growth has been flat.  (See the next chart for the actual employment series.)  And among those who have incomes, income inequality has grown sharply.  The next panic will probably be worse than the Panic of 2008.



To be fair here is the BLS Civilian Employment series according to FRED, which shows employment at November 2004 levels (note log scale).  The current slump has been the most proportionally damaging to employment in the postwar period.


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